ABB Ltd (NYSE:ABB) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of ABB Ltd (NYSE:ABBGet Rating) by 146.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,450 shares of the industrial products company’s stock after acquiring an additional 862 shares during the period. EverSource Wealth Advisors LLC’s holdings in ABB were worth $46,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in ABB by 29.0% in the first quarter. Advisory Services Network LLC now owns 7,096 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 1,596 shares during the last quarter. Capital International Investors boosted its holdings in ABB by 2.0% in the first quarter. Capital International Investors now owns 20,576,757 shares of the industrial products company’s stock valued at $667,249,000 after acquiring an additional 403,624 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in ABB by 2.9% in the first quarter. Gamco Investors INC. ET AL now owns 38,392 shares of the industrial products company’s stock valued at $1,242,000 after acquiring an additional 1,090 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in ABB by 5.2% in the first quarter. Beacon Pointe Advisors LLC now owns 22,914 shares of the industrial products company’s stock valued at $741,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in ABB by 2.2% in the first quarter. Royal Bank of Canada now owns 2,822,472 shares of the industrial products company’s stock valued at $91,278,000 after acquiring an additional 61,975 shares during the last quarter. Institutional investors and hedge funds own 5.41% of the company’s stock.

ABB Stock Down 2.7 %

Shares of ABB stock opened at $27.13 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm has a market cap of $53.30 billion, a P/E ratio of 12.56, a P/E/G ratio of 3.42 and a beta of 1.11. ABB Ltd has a fifty-two week low of $25.80 and a fifty-two week high of $39.11. The business has a 50-day moving average price of $28.61 and a 200 day moving average price of $29.82.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABB. UBS Group reduced their target price on ABB from CHF 37 to CHF 35 in a report on Friday, July 22nd. Stifel Nicolaus started coverage on ABB in a research report on Thursday, June 30th. They issued a “buy” rating on the stock. Bank of America lowered ABB from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 6th. StockNews.com lowered ABB from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 5th. Finally, Morgan Stanley raised their price objective on ABB from CHF 27 to CHF 27.20 in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, ABB presently has an average rating of “Hold” and an average price target of $33.03.

ABB Company Profile

(Get Rating)

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

Further Reading

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Institutional Ownership by Quarter for ABB (NYSE:ABB)

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